Press Release: Mergers: Commission approves takeover of VA Tech by Siemens, subject to conditions

The European Commission on 13 July 2005 approved under the EU Merger Regulation the proposed takeover of the VA Tech group of Austria by Siemens of Germany, subject to the condition that Siemens divested itself of VA Tech's hydro power business and ensured the independence of metal plant builder SMS Demag. The Commission decision followed an in-depth investigation into the takeover (see IP/05/175). In light of the commitments given by Siemens, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or a significant part of it.

• Primary Source

Siemens: Press: Press Release: 'EU Commission approves acquisition of VA Tech', 13.7.05 http://www.siemens.com/index.jsp?sdc_p=cz3s5uo1282231pnflmi1079175&sdc_sid=18445586191&sdc_bcpath=1026937.s_4%2C&

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